Target Corp. April Comps Increase 3.9%

Target Corporation today reported that its net retail sales for the four weeks ended May 3, 2003 increased 11.3 percent to $3.191 billion from $2.866 billion for the four-week period ended May 4, 2002. Comparable-store sales increased 3.9 percent from fiscal April 2002.

“Sales at Target Stores were on plan for the month of April, while sales at Mervyn’s and Marshall Field’s were below our expectations in the month,” said Bob Ulrich, chairman and chief executive officer of Target Corporation.

                                     Sales      Total Sales  Comparable Stores
                                  (millions)      % Change        %Change
     April
     Target                          $2,752          14.0            5.6
     Mervyn's                           244          (4.3)          (4.6)
     Marshall Field's                   164          (7.6)          (6.3)
     Other                               31          61.5             na
     Total                            3,191          11.3            3.9

     Year-to-date
     Target                          $8,577           9.3            1.1
     Mervyn's                           762          (7.0)          (7.3)
     Marshall Field's                   558          (5.5)          (4.9)
     Other                              109          40.2             na
     Total                           10,006           7.2           (0.1)